Proceedings u/s 138 of NI Act Maintainable Against Enforceable Debt Not security, Rules Gujarat HC

Recently, the Gujarat High Court observed that it is a settled proposition of law that proceedings u/s 138 of the NI Act will only lie against enforceable debts only. The Bench of Justice Gita Gopi made the observation while hearing a plea filed u/s 482 of CrPC, seeking quashing of CJM Rajkot’s order for offenses

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